Day: September 24, 2023

Accounting Multiple Choice Question – 24 September 2023

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

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A car cost £60,000 to purchase.

The car was later sold for £8,000 and the loss on disposal was £3,000.

What was the accumulated depreciation on the car on disposal?

Select ONE answer:

  1. £46,000
  2. £49,000
  3. £52,000
  4. £55,000

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 2

  1. Not correct
  2. Correct = Dr Cost £60k Cr Bank £8k Cr Loss £3k == > Depreciation is the difference £49k
  3. Not correct
  4. Not correct

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